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Apr 30, 2014

New NSDL RPU 3.9 and FVU 4.2 version for e-tds statements

New versions of the Return Preparation Utility (RPU) version 3.9 and File Validation Utility (FVU) version 4.2 and 2.138 have been released by NSDL. The above versions are now mandatory to be used with effect from April 26, 2014, for TDS statements pertaining to FY 2010-11 and onwards.

As the due date of filing of quarterly TDS statement for Q4 of FY 2013-14 is approaching fast, you are advised to use the new version of RPU to prepare statements and validate the file with new FVU to submit TDS statements, well before the due date (15th May, 2014).

The features of new version of RPU have following significant changes from the previous:

· “Particulars of the Person Responsible for Deduction of tax” option under “Form” page of RPU: “Same as above” check box has been provided under “Particulars of the Person Responsible for Deduction of tax” option of “Form” page. On selecting this, fields such as Flat No., Area/Location, Name of Premises/Building, Road/Street/Lane, Town/City/District, State and Pin Code will be auto-populate. The said option is available for Regular TDS/TCS statements only.

· While saving TDS/TCS file through RPU, file name will auto populate in predetermined format (Example: While saving a Regular file for Form 24Q Q4 through RPU, file name “24QRQ4” will auto populate under saving option. Similarly, while saving a Correction file for Form 26Q Q4, file name “26QCQ4” will auto populate under saving option.

· Addition of deductee records for Regular TDS/TCS statements in RPU: New window has been provided for addition of deductee records for Regular TDS/TCS statements in RPU. With the use of this, user can map corresponding deductee record to the respective challan. Those users who don’t want to use this option may proceed by clicking on “Skip this step” button.

· Error message for negative values in RPU: Error message will populate for any negative values present under amount fields of Challan as well as Annexure I (Deductee details) of RPU.

· Challan balance as per consolidated file downloaded from TRACES: New column i.e. “Challan balance as per consolidated file” (No. 23 under “Challan” details) has been added in RPU which will reflect unutilized balance available in challan based on consolidated file downloaded from TRACES.

The following are the key features of new version of FVU:

· Nil challans in TDS/TCS Statements will be permitted with no deductee records for Form 24Q Q4: The validations with respect to Nil challan statements have been relaxed for Form 24Q Q4 for all financial years and you will now be able to submit the TDS Statements for above with NIL challans and no corresponding deductee records.

· Validation for TDS amounts in case of higher deduction flag for Form 24Q pertaining to FY 2010-11 onwards: In case the deductor has provided flag for higher rate of deduction i.e., “C” in the TDS statement Form 24Q, the TDS amount for such deductee records should not be less than 20% of the amount paid/credited. This validation is also applicable for correction statements wherein new records are added. The same will not apply for those correction statements where deductee records are being updated.

o Example: In case the deductor has provided higher deduction flag as “C” due to non-availability of PAN and the amount paid/credited is Rs. 10,000/-, the corresponding TDS amount deducted for this record should not be less than Rs. 2,000/- (20% of Rs. 10,000).

· Validation for field “Form 15CA Unique Acknowledgement Number (if available)” in Annexure I of Form 27Q applicable for FY 2013-14 onwards: Validation for the field “Unique acknowledgement of the corresponding Form no 15CA (if available)” in Annexure I has been modified to permit any alpha-numeric value between 12 to 15 characters in the Form 27Q statement.